Apparatus and method for performing payment transaction using dynamic mst configuration

ABSTRACT

An apparatus and method for performing a payment transaction are provided. The method includes transmitting context data to a magnetic secure transmission (MST) configuration server, receiving an MST configuration from the MST configuration servicer, and executing the payment transaction based on the MST configuration. The context data being associated with the payment transaction.

CROSS-REFERENCE TO RELATED APPLICATION(S)

This application claims the benefit under 35 U.S.C. §119(e) of a U.S.Provisional application filed on Aug. 21, 2015, in the U.S. Patent andTrademark Office and assigned Ser. No. 62/208,224, the entire disclosureof which is hereby incorporated by reference.

TECHNICAL FIELD

The present disclosure relates to an apparatus and method for performinga payment transaction using a dynamic magnetic secure transmission (MST)configuration. More particularly, the present disclosure relates to anapparatus and method for performing a payment transaction using adynamic MST configuration based on context data transmitted from anelectronic device.

BACKGROUND

Payment transactions have been performed by swiping a card having amagnetic stripe at a point of sales (POS) device including a magneticstripe reader. As the card is swiped various information necessary tocomplete the transaction is detected by the POS device. For example, thePOS device uses identification information, payment type information,access control function information, card number (or primary accountnumber PAN), and/or a card validation value detected from the magneticstrip of the card to successfully perform the payment transaction.

Alternative methods of performing payment transactions using anelectronic device have been implemented. For example, magnetic stripedata may be stored at the electronic device and the electronic devicemay wirelessly transmit the magnetic stripe data to the POS device. Eachelectronic device uses a predetermined magnetic secure transmission(MST) configuration stored at the electronic device in order to generatea signal to securely transmit the magnetic stripe data. However, signalgenerated using the predetermined MST configuration is not compatiblewith each electronic device, merchant, POS device, and/or card networkand results in unsuccessful payment transactions where an alternativepayment method (e.g., card, cash, etc.) is necessary.

Accordingly, there is a need for an apparatus and method for improvingsuccessful payment transactions using an electronic device. In addition,there is a need for an apparatus and method for dynamically determininga MST configuration to perform a payment transaction based on contextdata associated with the electronic device.

SUMMARY

Aspects of the present disclosure are to address at least theabove-mentioned problems and/or disadvantages and to provide at leastthe advantages described below. Accordingly, an aspect of the presentdisclosure is to provide an apparatus and method for performing apayment transaction using a dynamic magnetic secure transmission (MST)configuration.

In accordance with an aspect of the present disclosure, a method forperforming a payment transaction is provided. The method includestransmitting context data to a magnetic secure transmission (MST)configuration server, the context data being associated with the paymenttransaction; receiving an MST configuration from the MST configurationservicer; and executing the payment transaction based on the MSTconfiguration.

In accordance with another aspect of the present disclosure, anelectronic device is provided. The electronic device includes a display;a transceiver configured to transmit and receive signals; a memory, oneor more programs being stored in the memory; and one or more processorsare configured to execute the one or more programs includinginstructions for: transmitting context data to a magnetic securetransmission (MST) configuration server, the context data beingassociated with a payment transaction, receiving an MST configurationfrom the MST configuration server, and executing the payment transactionbased on the MST configuration.

In accordance with another aspect of the present disclosure, a methodfor providing a magnetic secure transmission (MST) configuration for apurchase transaction is provided. The method includes receiving, at aMST configuration server, context data associated with the purchasetransaction; determining, at the MST configuration server, an MSTconfiguration based on the context data; and transmitting, from the MSTconfiguration server, the MST configuration to an electronic device. TheMST configuration may be used to execute the purchase transaction.

Other aspects, advantages, and salient features of the disclosure willbecome apparent to those skilled in the art from the following detaileddescription, which, taken in conjunction with the annexed drawings,discloses various embodiments of the disclosure.

BRIEF DESCRIPTION OF THE DRAWINGS

The above and other aspects, features, and advantages of variousembodiments of the present disclosure will be more apparent from thefollowing description taken in conjunction with the accompanyingdrawings, in which:

FIG. 1 illustrates a system for performing a payment transactionaccording to various embodiments of the present disclosure;

FIG. 2 illustrates an electronic device for performing a paymenttransaction according to various embodiments of the present disclosure;

FIG. 3 illustrates a method of performing a payment transactionaccording to various embodiments of the present disclosure;

FIG. 4 is an exemplary signaling diagram which illustrates an exemplarymethod of performing a payment transaction according to variousembodiments of the present disclosure;

FIG. 5 illustrates a method of providing a magnetic secure transmission(MST) configuration according to various embodiments of the presentdisclosure; and

FIG. 6 illustrates a block diagram of hardware associated with anelectronic device according to various embodiments of the presentdisclosure.

Throughout the drawings, it should be noted that like reference numbersare used to depict the same or similar elements, features, andstructures.

DETAILED DESCRIPTION

Detailed descriptions of various aspects of the present disclosure willbe discussed below with reference to the attached drawings. Thedescriptions are set forth as examples only, and shall not limit thescope of the present disclosure.

The detailed description with reference to the accompanying drawings isprovided to assist in a comprehensive understanding of variousembodiments of the disclosure as defined by the claims and theirequivalents. It includes various specific details to assist in thatunderstanding but these are to be regarded as merely exemplary.Accordingly, those of ordinary skill in the art will recognize thatvarious changes and modifications of the embodiments described hereincan be made without departing from the scope and spirit of thedisclosure. In addition, descriptions of well-known functions andconstructions are omitted for clarity and conciseness.

The terms and words used in the following description and claims are notlimited to the bibliographical meanings, but, are merely used by theinventor to enable a clear and consistent understanding of thedisclosure. Accordingly, it should be apparent to those skilled in theart that the following description of various embodiments of the presentdisclosure are provided for illustration purpose only and not for thepurpose of limiting the disclosure as defined by the appended claims andtheir equivalents.

It is to be understood that the singular forms “a,” “an,” and “the”include plural referents unless the context clearly dictates otherwise.Thus, for example, reference to “a component surface” includes referenceto one or more of such surfaces.

By the term “substantially” it is meant that the recited characteristic,parameter, or value need not be achieved exactly, but that deviations orvariations, including for example, tolerances, measurement error,measurement accuracy limitations and other factors known to those ofskill in the art, may occur in amounts that do not preclude the effectthe characteristic was intended to provide.

Unless defined differently, all terms used in the present disclosure,including technical or scientific terms, have meanings that areunderstood generally by a person having ordinary skill in the art.Ordinary terms that may be defined in a dictionary should be understoodto have the meaning consistent with their context, and unless clearlydefined in the present disclosure, should not be interpreted to beexcessively idealistic or formalistic.

According to various embodiments of the present disclosure, anelectronic device may include communication functionality. For example,an electronic device may be a smart phone, a tablet personal computer(PC), a mobile phone, a video phone, an e-book reader, a desktop PC, alaptop PC, a netbook PC, a personal digital assistant (PDA), a portablemultimedia player (PMP), an MP3 player, a mobile medical device, acamera, a wearable device (e.g., a head-mounted device (HMD), electronicclothes, electronic braces, an electronic necklace, an electronicappcessory, an electronic tattoo, or a smart watch), and/or the like.

According to various embodiments of the present disclosure, anelectronic device may be a smart home appliance with communicationfunctionality. A smart home appliance may be, for example, a television,a digital video disk (DVD) player, an audio, a refrigerator, an airconditioner, a vacuum cleaner, an oven, a microwave oven, a washer, adryer, an air purifier, a set-top box, a TV box (e.g., SamsungHomeSync™, Apple TV™, or Google TV™), a gaming console, an electronicdictionary, an electronic key, a camcorder, an electronic picture frame,and/or the like.

According to various embodiments of the present disclosure, anelectronic device may be a medical device (e.g., magnetic resonanceangiography (MRA) device, a magnetic resonance imaging (MRI) device,computed tomography (CT) device, an imaging device, or an ultrasonicdevice), a navigation device, a global positioning system (GPS)receiver, an event data recorder (EDR), a flight data recorder (FDR), anautomotive infotainment device, a naval electronic device (e.g., navalnavigation device, gyroscope, or compass), an avionic electronic device,a security device, an industrial or consumer robot, and/or the like.

According to various embodiments of the present disclosure, anelectronic device may be furniture, part of a building/structure, anelectronic board, electronic signature receiving device, a projector,various measuring devices (e.g., water, electricity, gas orelectro-magnetic wave measuring devices), and/or the like that includecommunication functionality.

According to various embodiments of the present disclosure, anelectronic device may be any combination of the foregoing devices. Inaddition, it will be apparent to one having ordinary skill in the artthat an electronic device according to various embodiments of thepresent disclosure is not limited to the foregoing devices.

Various embodiments of the present disclosure include an apparatus andmethod for performing a payment transaction using a dynamic magneticsecure transmission (MST) configuration.

FIG. 1 illustrates a system for performing a payment transactionaccording to various embodiments of the present disclosure.

Referring to FIG. 1, payment transaction system 100 includes anelectronic device 102, a point of sale (POS) device 104, a MSTconfiguration server 106, a payment transaction server 108, and network110. While not illustrated, other network elements may be included inpayment transaction system 100 such as a payment transaction network, aprovisioning and authentication server, a payment method issuer server,an acquirer server, a third party processor server of the issuer, etc.

The electronic device 102 may be configured to perform a paymenttransaction. For example, a payment application may be stored andexecuted at the electronic device 102. Payment information such asmagnetic stripe information, account information, etc. may be stored atthe electronic device 102 where the payment application may access thepayment information during a payment transaction. The electronic device102 may be configured to communicate with the POS device 104 to performa payment transaction. For instance, the electronic device 102 maygenerate a signal using a MST configuration received from the MSTconfiguration server 106. The signal is transmitted to the POS device104 and includes information associated with the payment informationstored at the electronic device 102.

In an exemplary embodiment, the POS device 104 may be further configuredto transmit information to the electronic device 102. For example, thePOS device 104 may transmit information associated with a merchantcorresponding to the POS device and/or configuration information of thePOS device 104 including manufacturer and device configurationinformation (e.g., hardware capabilities, software capabilities, etc.).In addition, the POS device 104 may transmit information to theelectronic device 102 indicating that the payment transaction issuccessful if the payment transaction server 108 approves the paymenttransaction.

The MST configuration server 106 is configured to generate an MSTconfiguration. In an exemplary embodiment, the MST configuration server106 receives context information from the electronic device 102,generates an MST configuration based on the context information, andtransmits the generated MST configuration to the electronic device 102where the electronic device 102 uses the MST configuration to performthe payment transaction with the POS device 104.

The MST configuration server 106 may be further configured to generate aplurality of different MST configurations based on the contextinformation received from the electronic device 102. The MSTconfiguration server 106 may score, rank, and/or assign a weight to eachgenerated MST configuration based on various context data parameters. Inan exemplary embodiment, the MST configuration server 106 may transmitone MST configuration to the electronic device 102 where the MSTconfiguration is selected based on the highest ranked MST configuration.The ranked MST configurations may be a plurality of MST configurationsgenerated based on the context information received from the electronicdevice 102 or the plurality of ranked MST configurations may bepreviously generated MST configurations based on previously transmittedcontext information from one or more electronic devices. Alternatively,the MST configuration server 106 may transmit a plurality of thegenerated MST configurations to the electronic device 102 where theelectronic device 102 may select one of the plurality of MSTconfigurations to perform the payment transaction. The electronic device102 may alternatively perform the payment transaction using each of thegenerated MST configurations until the payment transaction issuccessful.

In addition, the MST configuration server 106 may monitor generated MSTconfigurations over time. For example, the MST configuration server 106may monitor previously generated MST configurations for a plurality ofdifferent electronic devices, POS devices, merchants, and/or locationsto determine a MST configuration most likely to result in a successfulpayment transaction.

The payment transaction server 108 is configured to authenticate andapprove the payment transaction. In an exemplary embodiment, theelectronic device 102 transmits payment information including the MSTconfiguration generated by the MST configuration server 106 to the POSdevice 104. The POS device 104 transmits the payment informationincluding the MST configuration to the payment transaction server 108for authentication and approval. The payment transaction server 108determines whether to approve the payment transaction based on thepayment information and the MST configuration generated by the MSTconfiguration server 106. When the payment transaction is approved, thepayment transaction server 108 transmits a message to the POS device 104indicating that the payment transaction is successful.

In an exemplary embodiment, messages may be transmitted between theelectronic device 102, the POS device 104, the MST configuration server106, and/or the payment transaction server 108 indicating the status ofthe payment transaction (e.g., successful or unsuccessful). For example,the POS device 104 may transmit a message to the electronic device 102to indicate that the payment transaction is successful. The electronicdevice 102 may transmit a message to the MST configuration server 106indicating that the MST configuration used for the payment transactionwas successful after receiving the electronic device 102 receives themessage from the POS device 104. Alternatively, the payment transactionserver 108 may transmit a message to the electronic device 102 and/orthe POS device 104 to indicate that the payment transaction issuccessful.

The electronic device 102 is in communication with the POS device 104through communication link 112 and the network 110 through communicationlink 114. The POS device 104 is in communication with the network 110through communication link 116. The MST configuration server 106 is incommunication with the network 110 through communication link 118 andthe payment transaction server 108 is in communication with network 110through communication link 120. The communication links 112, 114, 116,118, and 120 can be wired or wireless and use various communicationprotocols such as Internet, Internet protocol (IP), local-area network(LAN), optical networking, hybrid fiber coax (HFC), telephony, T1, orsome other communication format—including combinations, improvements, orvariations thereof. Wireless communication links can be a radiofrequency, microwave, infrared, or other similar signal, and can use asuitable communication protocol, for example, Global System for Mobiletelecommunications (GSM), Code Division Multiple Access (CDMA),Worldwide Interoperability for Microwave Access (WiMAX), Long TermEvolution (LTE), LTE Advanced (LTE-A), or combinations thereof. Otherwireless protocols can also be used such as short range communicationprotocols including near field communication (NFC), Bluetooth™, MST,etc. The communication links 112, 114, 116, 118, and 120 can be a directlink or might include various equipment, intermediate components,systems, and networks.

Communication link 112 may be a different communication protocol from atleast one of communication links 114, 116, 118, and 120. For example,the POS device 104 and the electronic device 102 may communicate using ashort range communication protocol such as including NFC), Bluetooth™,MST, or any other short range communication technique. In addition, ifthe communication links 114, 116, 118, and 120 use wirelesscommunication protocols, information transmitted over the communicationlinks 114, 116, 118, and 120 may use a short range or a long rangecommunication protocol.

In an exemplary embodiment, the electronic device 102 is configured totransmit the payment information and the context information usingdifferent communication protocols. For example, the electronic device102 may transmit payment information to the POS device 104 using a firstcommunication protocol and the context information to the MSTconfiguration server 106 using a second communication protocol differentfrom the first communication protocol.

The network 110 is configured to transmit and/or receive communicationsfrom the electronic device 102, the POS device 104, the MSTconfiguration server 106, and/or the payment transaction server 108. Thenetwork 110 may be a telecommunications network including at least oneof a computer network, the Internet, the Internet of Things, a telephonenetwork, and/or the like. The network 110 can be a wired and/or wirelesscommunication network, and can comprise processing nodes, routers,gateways, and physical and/or wireless data links for carrying dataamong various network elements, including combinations thereof, and caninclude a local area network a wide area network, and an internetwork(including the Internet). The network 110 can be configured to carry oneor more types of data, for example, to support voice, push-to-talk,broadcast video, and data communications. While not illustrated in FIG.1, the network 110 can also comprise additional base stations,controller nodes, telephony switches, internet routers, networkgateways, computer systems, communication links, or some other type ofcommunication equipment, and combinations thereof.

FIG. 2 illustrates an electronic device according to various embodimentsof the present disclosure.

Referring to FIG. 2, an electronic device 200 includes a bus 202, adisplay 204, an input/output (I/O) interface 206, a communicationinterface 208, a global positioning system (GPS) sensor 210, a memory212, and a processor 214. The electronic device 200 may be anyelectronic device, including, for example, electronic device 102illustrated in FIG. 1.

The bus 202 may be circuitry that connects the display 204, the I/Ointerface 206, the communication interface 208, the GPS sensor 210, thememory 212, and/or the processor 214 to allow communication between theforegoing components. For example, the bus 202 may connect thecomponents of the electronic device 200 so as to allow control messagesand/or other information to be communicated between the connectedcomponents.

The display 204 may be configured to display various types ofinformation (e.g., multimedia, text data, and/or the like) to the user.The display 204 may be any type of display such as a liquid crystaldisplay (LCD), an organic light-emitting diode (OLED) display such as anactive-matrix OLED (AM-OLED) or other type of OLED display, a plasmadisplay, etc.

In an exemplary embodiment, the display 204 may display a graphical userinterface (GUI) with which a user may interact with the electronicdevice 200. In another exemplary embodiment, the display 202 may furtherinclude a touch sensor and/or a pressure sensor configured to generate asignal associated with a touch input received at the display 204.

The I/O interface 206 may be configured to receive one or more inputsprovided at the electronic device 200 and/or output information from theportable electronic device 200. The I/O interface 206 may send aninstruction and/or data, via the bus 202, to the communication interface208, the memory 212, and/or the processor 214. For example, the I/Ointerface 206 may provide data associated with an input received via atouch screen, a tactile input device (e.g., button), a microphone, etc.to the processor 214. In addition, the I/O interface 206 may, forexample, output instructions and/or data received via the bus 202 fromthe communication interface 208, the GPS sensor 210, the memory 212,and/or the processor 214 and/or the like, via an I/O device (e.g., aspeaker, a display, and/or the like). For instance, the I/O interface206 may output audio data (e.g., processed using the processor 214) viaa speaker.

The communication interface 208 is configured to transmit and/or receivesignals. For example, the communication interface 208 may be atransceiver configured to communicate with other devices by establishinga connection with a communication network such as the network 110 usingwireless or wired communication. The wireless communication with whichthe communication interface 208 may use to communicate includes one ormore of Wi-Fi, Bluetooth™, NFC, GPS, cellular communication (e.g., LongTerm Evolution (LTE), LTE Advanced (LTE-A), Code Division MultipleAccess (CDMA), Wideband-CDMA (WDCMA), Universal MobileTelecommunications System (UMTS), Wireless Broadband (WiBro), GlobalSystem for Mobile Communications (GSM), and/or the like), Infrared DataAssociation (IrDA) technology, and/or the like. The wired communicationwith which the communication interface 208 may use to communicate mayinclude at least one of Universal Serial Bus (USB), High DefinitionMultimedia Interface (HDMI), Recommended Standard 232 (RS-232), PlainOld Telephone Service (POTS), Ethernet, and/or the like. In addition,the communication interface 208 may be used to communicate the MSTconfiguration to a POS device from electronic device 200.

The GPS sensor 210 may be configured to determine location coordinateinformation of the electronic device 200. For example, the GPS sensor210 is configured to measure one or more of a latitude coordinate, alongitude coordinate, time, speed, and/or heading associated with theelectronic device. In an exemplary embodiment, the GPS sensor 210 maytransmit the location coordinate information to the communicationinterface 208 and/or the processor 214 where context informationincluding the location coordinate information measured by the GPS sensor210 is transmitted to an MST configuration server via the communicationinterface 208.

The memory 212 is configured to store information corresponding to theelectronic device 200. The memory 212 includes at least one of anon-transitory computer readable storage medium. In an exemplaryembodiment, the memory 212 may be a storage device integrally formedwith the electronic device 200 such as a hard drive.

The processor 214 may transmit and/or receive information and/orinstructions to/from the display 204, the I/O interface 206, thecommunication interface 208, the GPS sensor 210, and the memory 212. Inaddition, the processor 214 may interpret the received instructionsand/or execute computation or data processing according to theinterpreted instructions. In an exemplary embodiment, one or moreprograms or applications may be stored in the memory 212 where theprocessor 214 is configured to execute the one or more programs orapplications stored in the memory 212.

FIG. 3 illustrates a flow chart of an exemplary method of performing apayment transaction. Referring to FIG. 3, the method 300 will bediscussed with reference to the exemplary payment transaction system 100illustrated in FIG. 1 and the exemplary electronic device 200illustrated in FIG. 2. However, the method can be implemented with anysuitable payment transaction system and/or electronic device. Inaddition, although FIG. 3 depicts steps performed in a particular orderfor purposes of illustration and discussion, the methods discussedherein are not limited to any particular order or arrangement. Oneskilled in the art, using the disclosures provided herein, willappreciate that various steps of the methods can be omitted, rearranged,combined, and/or adapted in various ways.

Referring to FIG. 3, at operation 302, a purchase transaction isinitiated. For example, a purchase transaction may be initiated at theelectronic device 102 or 200 where an input provided at the electronicdevice 102 or 200 is detected by the I/O interface 206. The detectedinput may be indicative of an instruction to execute a paymenttransaction application stored in the memory 212 and/or a selection of apayment method (e.g., card, payment account, etc.). For example, apayment transaction application associated with the payment methodsstored at the electronic device 102 may be initiated and a user mayselect a payment method from the stored payment methods. Informationassociated with the payment method such as payment method identificationinformation, payment type information, access control functioninformation, account number, card number (or primary account numberPAN), and/or a card validation value may be stored in the memory 212 ofthe electronic device 200.

Alternatively, the purchase transaction may be initiated when theelectronic device 102 or 200 comes within a predetermined distance ofthe POS device 104. For example, if the electronic device 102 or 200comes within a predetermined distance of the POS device 104, the paymenttransaction may be initiated by the electronic device 102 or 200 or thePOS device 104. For instance, upon detection of the POS device 104, theelectronic device 102 or 200 can launch the payment transactionapplication and/or display a notification on the display 204 to confirmpayment transaction initiation or various payment methods available tothe electronic device 102 or 200. Alternatively, the POS device 104 candetect that the electronic device 102 or 200 is within the predetermineddistance where the POS device 104 can transmit payment transactioninitiation information to the electronic device 102 or 200.

At operation 304, context data is transmitted. For example, theelectronic device 102 or 200 transmits contact data to the MSTconfiguration server 106 using the communication interface 208.

In an exemplary embodiment, the context data may include one or more ofelectronic device information, merchant information, POS deviceinformation, payment method information, payment network information,networking data information, electronic device location information, ora combination thereof. While the different parameters of the contextdata are listed above, one of ordinary skill in the art would recognizethat the context data may be selected from any of the parameters whereone or more of each parameter may be selected to be transmitted to theMST configuration server 106.

The electronic device information and POS device information may includemanufacturer or device configuration information (e.g., hardwarecapabilities, software capabilities, etc.) as well as a current date ortime associated with the initiation of the payment transaction. Thepayment method information may include payment method identificationinformation, payment type information, access control functioninformation, account number, card number, primary account number (PAN),and/or a card validation value. The payment network information mayinclude network information associated with a selected payment methodincluding access and authentication information for the selected paymentmethod network, control information, etc. The networking datainformation may include access and authentication information fornetwork 110, control information, etc. The electronic device locationinformation may include the coordinate information detected by the GPSsensor 210 or location information provided to the electronic device 102or 200 from the POS device 104.

At operation 306, a MST configuration is received. For example, theelectronic device 102 or 200 can receive the MST configuration from theMST configuration server 106. In an exemplary embodiment, the MSTconfiguration server 106 generates the MST configuration based on thecontext information.

At operation 308, the purchase transaction is executed. For example, theelectronic device 102 or 200 transmits payment transaction informationto the POS device 104 using the generated MST configuration. In anexemplary embodiment, the electronic device 102 or 200 can generate asignal using the generated MST configuration where the signal includesthe payment information. The signal may be a magnetic signal that mimicsthe magnetic strip on a traditional payment card. The signal isgenerated by the electronic device 102 or 200 based on the generated MSTconfiguration. Each different MST configuration results in a differentsignal being generated while the payment information included in thesignal remains the same.

At operation 308, transaction information is received. For example, thePOS device 104 may transmit information regarding the paymenttransaction to the electronic device 102 or 200. The transactioninformation may include an indication of whether the payment transactionwas successful or unsuccessful, context data associated with thetransaction, etc.

In an exemplary embodiment, if the payment transaction based on thepayment transaction information using the generated MST configuration isauthenticated and accepted, the POS device 104 may send an indicator tothe electronic device 102 or 200 that the payment transaction wassuccessful. Alternatively, the payment transaction server 108 maytransmit the indication that the payment transaction was successful tothe electronic device 102 or 200. In another exemplary embodiment, if anindicator has not been received within a predetermined amount of time,the electronic device 102 or 200 can determine that the paymenttransaction was unsuccessful. Alternatively, the POS device 104 or thepayment transaction server 108 may transmit an indication that thepayment transaction was unsuccessful to the electronic device 102 or200.

At operation 310, a payment result may be displayed. For example, theelectronic device 102 or 200 may display information indicating that thepayment transaction was successful or unsuccessful based on anindication received by the POS device 104 or the payment transactionserver 108. In another exemplary embodiment, the electronic device 102or 200 may further transmit a message to the MST configuration server106 indicating that the payment transaction was successful afterreceiving the transaction information.

It is noted that operations 310 and/or 312 are optional and areaccordingly illustrated with dashed lines. One of ordinary skill in theart would recognize that none of operations 310 and/or 312 are essentialor required for the method of performing the payment transactionillustrated in FIG. 3.

FIG. 4 is an exemplary signaling diagram that illustrates an exemplarymethod of performing a payment transaction. Referring to FIG. 4, thesignal diagram will be discussed with reference to the exemplary paymenttransaction system 100 illustrated in FIG. 1. However, the signalingdiagram can be implemented with any suitable payment transaction system.In addition, although FIG. 4 depicts signaling performed in a particularorder for purposes of illustration and discussion, the signalingdiscussed herein is not limited to any particular order. Moreover,additional signaling not included in FIG. 4 can also be performed.

Referring to FIG. 4, a payment transaction is initiated between theelectronic device 102 and the POS device 104. The payment transactionmay be initiated as set forth above. If the payment transaction isinitiated by the electronic device 102, the electronic device 102 canrequest context information at 404 where the requested contextinformation may include context information associated with the POSdevice 104 and/or a merchant associated with the POS device 104. The POSdevice 104 responds to the context information request and transmitscontext information at 406 where the response to the context informationrequest includes at least one of merchant information, POS deviceinformation, payment network information, and networking datainformation to the electronic device 102.

The electronic device 102 then transmits a request for a MSTconfiguration at 408 to the MST configuration server 106. The requestfor the MST configuration may include context information. The contextinformation may include the context information associated with and/orstored at the electronic device, the context information received fromthe POS device 104, or a combination thereof. In an exemplaryembodiment, while FIG. 4 illustrates that POS device 104 transmitscontext information to the electronic device 102, the electronic device102 can alternatively transmit only context information associated withthe electronic device 102 where communication between the POS device 104and the electronic device 102 is not necessary prior to the electronicdevice 102 transmitting the request for a MST configuration to the MSTconfiguration server 106.

The MST configuration server 106 responds to the MST configurationrequest at 410 where the MST configuration server 106 generates one ormore MST configurations based on the context information received fromthe electronic device and transmits the one or more MST configurationsin response to the MST configuration request. The generation of the oneor more MST configurations will be disclosed below.

After the electronic device 102 receives the one or more MSTconfigurations from the MST configuration server 106, the electronicdevice 102 executes the payment transaction at 412. For example, theelectronic device 102 transmits information associated with the paymentmethod and the MST configuration to the POS device 104. The electronicdevice 102 can store the generated MST configurations received from theMST configuration server 106 or the generated MST configurations may bediscarded following the execution of the payment transaction.

The POS device 104 can determine a payment transaction server totransmit a request for payment based on at least one of the paymentinformation, the context information, and the MST configuration. The POSdevice 104 then transmits the request for payment transaction approvalto the payment transaction server 108 at 414 where the request forpayment includes the payment information.

The payment transaction server 108 determines whether to approve andauthenticate the request for payment. In an exemplary embodiment, thepayment transaction server 108 first determines whether to approve therequest for payment transaction based on the payment information. Thepayment transaction server 108 determines whether appropriate funds areavailable to approve the transaction based on the payment information.If the appropriate funds are available, the payment transaction server108 responds to the request for payment at 416 where the response to thepayment request may include an indication that the payment transactionis approved or declined. If funds are not available and/or the paymentrequest determination process exceeds a predetermined time limit, thepayment transaction server 108 may transmit a response including anindication that the payment transaction is declined.

In an exemplary embodiment, if the MST configuration server 106generates and transmits a plurality of MST configurations to theelectronic device 102, the electronic device 102 may execute the paymenttransaction using each of the generated MST configurations until thepayment transaction server 108 determines that the payment informationis accepted.

In another exemplary embodiment, if the payment transaction server 108approves the payment transaction, the POS device 104 and/or the paymenttransaction server 108 can transmit an indication to the electronicdevice that the payment transaction is approved at 418. For example, thePOS device 104 and/or the payment transaction server 108 may transmitthe indication of payment approval using a communication protocoldifferent from the communication protocol used to execute the paymenttransaction. In addition, if the electronic device 102 receives anindication that the transaction is approved, the electronic device 102may transmit an indication to the MST configuration server 106 that thepayment transaction using the MST configuration is successful at 420where the MST configuration server 106 may use the indication that thepayment transaction using the MST configuration is successful todetermine future MST configurations.

It is noted that the request for context information 404, the responseto context information 406, the message indicating payment approval 418,and/or the message indicating the successful transaction 420 areoptional and are illustrated as dashed lines. One of ordinary skill inthe art would recognize that none of 404, 406, 418, and/or 420 areessential or required for the method of performing the paymenttransaction illustrated in FIG. 4.

FIG. 5 illustrates a flow chart of an exemplary method of generating aMST configuration. Referring to FIG. 5, the method 500 will be discussedwith reference to the exemplary MST configuration server 106 illustratedin FIG. 1. However, the method can be implemented with any suitable MSTconfiguration server 106. In addition, although FIG. 5 depicts stepsperformed in a particular order for purposes of illustration anddiscussion, the methods discussed herein are not limited to anyparticular order or arrangement. One skilled in the art, using thedisclosures provided herein, will appreciate that various steps of themethods can be omitted, rearranged, combined, and/or adapted in variousways.

Referring to FIG. 5, at operation 502, context data is received. Forexample, the MST configuration server 106 may receive context data fromthe electronic device 102 and/or the POS device 104. The context datamay include one or more of electronic device information, merchantinformation, POS device information, payment method information, paymentnetwork information, networking data information, electronic devicelocation information, or a combination thereof. The MST configurationserver 106 may receive the context data from the electronic device 102,the POS device 104, or a combination thereof.

At operation 504, an MST configuration is determined. For example, theMST configuration server 106 may determine one or more MSTconfigurations based on the received context data. Alternatively, or inaddition to determining the one or more MST configurations based on thereceived context data, the MST configuration server 106 may determineone or more MST configurations based on previously generated MSTconfigurations.

In an exemplary embodiment, an MST configuration may be generated basedon one or more context data parameters. For example, if the MSTconfiguration server 106 receives context data associated with a paymentmethod network, a merchant, a location, and a POS terminal model, theresulting MST configuration will include elements associated with thepayment method network parameter, the merchant parameter, the locationparameter, and the POS terminal model parameter. Each MST configurationelement may be individually scored and a resulting overall score or rankof the generated MST configuration may be determined based on thecombination of the MST configuration elements.

The score for each MST configuration element may be based on whether theMST configuration element was previously used during a paymenttransaction and whether the payment transaction was successful. Forexample, the MST configuration server 106 may monitor the success ofpayment transactions for similar MST configurations based on the paymentmethod network MST configuration element, the success of paymenttransactions for similar MST configurations based on the merchant MSTconfiguration element, the success of similar MST configurations basedon the location MST configuration element, and/or the success of paymenttransactions of similar MST configurations based on the POS terminalmodel element.

The score for each MST configuration element may be combined todetermine an overall score for the MST configuration. In an exemplaryembodiment, different MST configuration elements may be weighteddifferently when determining the overall score for the MSTconfiguration. For example, the payment method network element may beweighted more than the location element. In another exemplaryembodiment, if a payment transaction is not successful, the score of theoverall MST configuration may be reduced. In another exemplaryembodiment, the scoring may be based on how many times a paymenttransaction is successful at a specific or similar location. Forinstance, payment transaction history may be monitored to determineclusters or groups of MST configurations that resulted in a successfulpayment transaction. The more times an MST configuration results in asuccessful payment transaction at a specific location, the higher thescore, rank, and/or confidence level in predicting future successfulpayment transactions using the MST configuration.

In an exemplary embodiment, the MST configuration server 106 maydetermine the MST configuration to be used for the payment transactionbased on the overall score of each MST configuration where the highestscore may be indicative of the likelihood the payment transaction willbe successful using the MST configuration. If the MST configurationserver 106 is determining a plurality of MST configurations, the MSTconfiguration server 106 may select and/or generate MST configurationbased on the highest overall scores.

At operation 506, the MST configuration is transmitted. For example, theMST configuration server 106 transmits the determined MST configurationto the electronic device 102. The transmitted MST configuration is usedto generate a signal that includes payment information to perform thepayment transaction.

At operation 508, an indicator of a successful transaction is received.For example, the MST configuration server 106 may receive a message fromthe electronic device 102, the POS device 104, and/or the paymenttransaction server 108 indicating that the payment transactionimplementing the MST configuration was successful. It is noted that FIG.4 illustrates that the MST configuration server 106 receives the messageindicating the successful transaction 420 from the electronic device102. However, the message indicating the successful transaction mayadditionally, or alternatively, be transmitted by the POS device 104.

At operation 510, the MST configuration can be stored. For example, theMST configuration server 106 may store the MST configuration if the MSTconfiguration has been generated for the first time. The MSTconfiguration may be stored at any time including before or afterreceiving the indicator of a successful transaction.

If the MST configuration was determined based on a previously used andpreviously stored MST configuration, the MST configuration server 106may update the score of the MST configuration based on whether thepayment transaction using the previous MST configuration was successful.

At operation 512, the generation of MST configurations can be monitored.For example, the MST configuration server 106 may generate MSTconfigurations for a plurality of electronic devices, a plurality ofdifferent payment methods, a plurality of different merchants, aplurality of different locations, and/or a plurality of different POSterminals. The MST configuration server 106 may monitor the generatedMST configurations using one or more MST configuration elements overtime to determine whether certain MST configuration element combinationsand/or arrangements are more successful than others. If the MSTconfiguration server 106 identifies that a MST configuration combinationand/or arrangement is more successful, the MST configuration server 106may increase the overall score of the MST configuration to increase thelikelihood of selecting the MST configuration for a payment transaction.

In another exemplary embodiment, additional services may be providedbased on the MST configuration. For example, upon a successful paymenttransaction, advertisements and/or promotions from other stores ormerchants within a predetermined distance of the successful paymenttransaction may be transmitted to the electronic device 102.

In addition, future MST configurations may be generated based on theexecution of the additional services. For example, if a coupon for afirst merchant is transmitted to an electronic device 102 after asuccessful payment transaction is executed at a second store and theelectronic device 102 uses the coupon at the first merchant, theelectronic device 102 can transmit context data to the MST configurationserver 106 associated with the first merchant where the MSTconfiguration server 106 can generate an MST configuration to be usedwhen a payment transaction is initiated at the second merchant.

It is noted that operations 508, 510 and/or 512 are optional and areaccordingly illustrated with dashed lines. One of ordinary skill in theart would recognize that none of operations 508, 510, and/or 512 areessential or required for the method of performing the paymenttransaction illustrated in FIG. 5.

FIG. 6 illustrates a block diagram of hardware according to anembodiment of the present disclosure.

Referring to FIG. 6, an electronic device 600 may be, for example, apart or all of the electronic device 102. The electronic device 600 mayinclude one or more Application Processors (AP) 610, a communicationinterface module 620, a Subscriber Identification Module (SIM) card 624,a memory 630, a sensor module 640, an input module 650, a display module660, an interface 670, an audio module 680, a camera module 691, a powermanagement module 695, a battery 696, an indicator 697, a motor 698,and/or the like.

The AP 610 may control one or more hardware or software components thatare connected to AP 610, perform processing or computation of data(including multimedia data), and/or the like. As an example, the AP 610may be implemented as a System-on-Chip (SoC). The AP 610 may include aGraphics Processing Unit (GPU) (not shown).

The communication interface module 620 (e.g., the communicationinterface 208) may transmit and receive data in communications betweenthe electronic device 601 and other electronic devices (e.g., the POSdevice 104, the MST configuration server 106, the payment transactionserver 108, and/or the like). The communication interface module 620 mayinclude one or more of a cellular module 621, a Wi-Fi module 623, aBluetooth module 625, a GPS module 627, a NFC module 628, a RadioFrequency (RF) module 629, and/or the like.

The cellular module 621 may provide services such as, for example, avoice call, a video call, a Short Messaging Service (SMS), internetservice, and/or the like, via a communication network (e.g., LTE, LTE-A,CDMA, WCDMA, UMTS, WiBro, GSM, and/or the like). The cellular module 621may differentiate and authorize electronic devices within acommunication network using a Subscriber Identification Module (SIM)card (e.g., the SIM card 624). According to various embodiments of thepresent disclosure, the cellular module 621 may perform at least a partof the functionalities of the AP 610. For example, the cellular module621 may perform at least a part of multimedia control functionality.

According to various embodiments of the present disclosure, thecommunication interface module 620 and/or the cellular module 621 mayinclude a Communication Processor (CP). As an example, the cellularmodule 621 may be implemented as SoC.

Although FIG. 6 illustrates components such as the cellular module 621(e.g., CP), the memory 630, the power management module 695 ascomponents that are separate from the AP 610, according to variousembodiments of the present disclosure, the AP 610 may include, or beintegrated with, one or more of the foregoing components (e.g., thecellular module 621).

According to various embodiments of the present disclosure, the AP 610,the cellular module 621 (e.g., CP), and/or the like, may processinstructions or data received from at least one of non-volatile memoryor other components by loading in volatile memory. The AP 610, thecellular module 621, the communication interface module 620, and/or thelike, may store at non-volatile memory at least one of data that isreceived from at least one of the other components or data that isgenerated by at least one of the other components.

The Wi-Fi module 623, the Bluetooth module 625, the GPS module 627, theNFC module 628, and/or the like may each include one or more processorsthat may process data received or transmitted by the respective modules.Although FIG. 6 illustrates the cellular module 621, the Wi-Fi module623, the Bluetooth module 625, the GPS module 627, and the NFC module628 as separate blocks, according to various embodiments of the presentdisclosure, any combination (e.g., two or more) of the cellular module621, the Wi-Fi module 623, the Bluetooth module 625, the GPS module 627,the NFC module 628, and/or the like may be included in an IntegratedChip (IC) or an IC package. For example, at least some of the processorscorresponding to the respective the cellular module 621, the Wi-Fimodule 623, the Bluetooth module 625, the GPS module 627, the NFC module628, and/or the like, may be implemented as a single SoC. For example, aCP corresponding to the cellular module 621 and a Wi-Fi processorcorresponding to Wi-Fi module 623 may be implemented as a single SoC.

The RF module 629 may, for example, transmit and receive RF signals.Although not shown, the RF module 629 may include a transceiver, a PowerAmp Module (PAM), a frequency filter, a Low Noise Amplifier (LNA),and/or the like. The RF module 629 may include one or more componentsfor transmitting and receiving Electro-Magnetic (EM) waves (e.g., infree space or the like) such as, for example, conductors or conductivewires. Although FIG. 6 illustrates that the cellular module 621, theWi-Fi module 623, the Bluetooth module 625, the GPS module 627, and theNFC module 628 are sharing one RF module 629, according to variousembodiments of the present disclosure, at least one of the cellularmodule 621, the Wi-Fi module 623, the Bluetooth module 625, the GPSmodule 627, the NFC module 628, and/or the like may transmit and receiveRF signals via a separate RF module.

The SIM card 624 may be a card implementing a SIM, and may be configuredto be inserted into a slot disposed at a specified location of theelectronic device. The SIM card 624 may include a unique identifier(e.g., Integrated Circuit Card IDentifier (ICCID)) subscriberinformation (e.g., International Mobile Subscriber Identity (IMSI)),and/or the like.

The memory 630 (e.g., memory 212) may include an internal memory 632, anexternal memory 634, or a combination thereof.

According to various embodiments of the present disclosure, the internalmemory 632 may be, for example, at least one of volatile memory (e.g.,Dynamic Random Access Memory (DRAM), Static Random Access Memory (SRAM)or Synchronous Dynamic Random Access Memory (SDRAM)), non-volatilememory (e.g., One Time Programmable Read Only Memory (OTPROM),Programmable Read Only Memory (PROM), Erasable and Programmable ReadOnly Memory (EPROM), Electrically Erasable and Programmable Read OnlyMemory (EEPROM), mask Read Only Memory (ROM), flash ROM, NAND flashmemory, NOR flash memory), and/or the like.

According to various embodiments of the present disclosure, the internalmemory 632 may be a Solid State Drive (SSD). As an example, the externalmemory 634 may be a flash drive (e.g., Compact Flash (CF drive), SecureDigital (SD), micro Secure Digital (micro-SD), mini Secure Digital(mini-SD), extreme Digital (xD), Memory Stick, and/or the like). Theexternal memory 634 may be operatively coupled to electronic device 600via various interfaces. According to various embodiments of the presentdisclosure, the electronic device 600 may include recording devices (orrecording media) such as, for example, Hard Disk Drives (HDD), and/orthe like.

The sensor module 640 may measure physical/environmental propertiesdetect operational states associated with electronic device 600, and/orthe like, and convert the measured and/or detected information intosignals such as, for example, electric signals or electromagneticsignals. As an example, the sensor module 640 may include at least oneof a gesture sensor 640A, a gyro sensor 640B, an atmospheric pressuresensor 640C, a magnetic sensor 640D, an accelerometer 640E, a gripsensor 640F, a proximity sensor 640G, an RGB sensor 640H, a biometricsensor 640I, a temperature/humidity sensor 640J, a luminosity sensor640K, an Ultra Violet (UV) sensor 640M, and/or the like. The sensormodule 640 may detect the operation state of the electronic deviceand/or measure physical properties, and convert the detected or measuredinformation into electrical signals. Additionally, or alternatively, thesensor module 640 may also include, for example, an electrical-nosesensor (not shown), an electromyography (EMG) sensor (not shown), anelectroencephalogram (EEG) sensor (not shown), an infrared (IR) sensor(not shown), an eye-scanning sensor (e.g., iris sensor) (not shown), afingerprint sensor, and/or the like. The sensor module 640 may alsoinclude control circuitry for controlling one or more sensors includedtherein.

The input module 650 may include a touch panel 652, a (digital) pensensor 654, a key 656, an ultrasonic input device 658, and/or the like.

As an example, the touch panel 652 may detect touch input usingcapacitive, resistive, infrared, ultrasonic methods, and/or the like.The touch panel 652 may also include a touch panel controller (notshown). As an example, a capacitive-type touch panel may detectproximity inputs (e.g. hovering input) in addition to, or as analternative to, physical touch inputs. The touch panel 652 may alsoinclude a tactile layer. According to various embodiments of the presentdisclosure, the touch panel 652 may provide haptic (or other) feedbackto the user using the tactile layer.

As an example, the (digital) pen sensor 654 may be implemented usingmethods identical to or similar to receiving a touch input from a user,or using a separate detection sheet (e.g., a digitizer).

As an example, the key 656 may be a keypad, a touch key, and/or thelike.

As an example, the ultrasonic input device 658 may be a deviceconfigured to identify data by detecting, using a microphone (e.g.,microphone 688), ultrasonic signals generated by a device capable ofgenerating the ultrasonic signal. The ultrasonic input device 658 maydetect data wirelessly.

According to various embodiments of the present disclosure, theelectronic device 600 may receive user input from an external device(e.g., a network, computer or server) connected to the electronic device600 using the communication interface module 620.

The display module 660 (e.g., the display 204) may include a panel 662,a hologram device 664, a projector 666, and/or the like. As an example,the panel 662 may be, for example, a Liquid-Crystal Display (LCD), anActive-Matrix Organic Light-Emitting Diode (AM-OLED) display, and/or thelike. As an example, the panel 662 may be configured to be flexible,transparent, and/or wearable. The panel 662 and the touch panel 652 maybe implemented as a single module. The hologram device 664 may provide athree-dimensional image. For example, the hologram device 664 mayutilize the interference of light waves to provide a three-dimensionalimage in empty space. The projector 666 may provide image by projectinglight on a surface (e.g., a wall, a screen, and/or the like). As anexample, the surface may be positioned internal or external toelectronic device 600. According to various embodiments of the presentdisclosure, the display module 660 may also include a control circuitryfor controlling the panel 662, the hologram device 664, the projector666, and/or the like.

The interface 670 may include, for example, one or more interfaces for aHigh-Definition Multimedia Interface (HDMI) 672, a Universal Serial Bus(USB) 674, an optical interface 676, or a D-subminiature (D-sub) 678,and/or the like. The interface 670 may be part of the communicationinterface module 620. Additionally, or alternatively, the interface 670may include one or more interfaces for Mobile High-definition Link(MHL), Secure Digital (SD)/MultiMedia Card (MMC), Infrared DataAssociation (IrDA), and/or the like.

The audio module 680 may encode/decode sound into electrical signal, andvice versa. According to various embodiments of the present disclosure,at least a portion of the audio module 680 may be part of the I/Ointerface 206. As an example, the audio module 680 may encode/decodevoice information that is input into, or output from, a speaker 682, areceiver 684, an earphone 686, the microphone 688, and/or the like.

The camera module 691 may capture still images and/or video. Accordingto various embodiments of the present disclosure, the camera module 691may include one or more image sensors (e.g., front sensor module, rearsensor module, and/or the like) (not shown), an Image Signal Processor(ISP) (not shown), or a flash (e.g., Light-Emitting Diode (flash LED),xenon lamp, and/or the like) (not shown).

The power management module 695 may manage electrical power of theelectronic device 600. Although not shown, the power management module695 may include, for example, a Power Management Integrated Circuit(PMIC), a charger Integrated Circuit (charger IC), a battery gauge, afuel gauge, and/or the like.

As an example, the PMIC may be disposed in an integrated circuit or anSoC semiconductor. The charging method for the electronic device 600 mayinclude wired or wireless charging. The charger IC may charge a battery,may prevent excessive voltage or excessive current from a charger fromentering the electronic device 600, and/or the like. According tovarious embodiments of the present disclosure, the charger IC mayinclude at least one of a wired charger IC or a wireless charger IC. Asan example, the wireless charger IC may be a magnetic resonance type, amagnetic induction type, an electromagnetic wave type, and/or the like.As an example, the wireless charger IC may include circuits such as acoil loop, a resonance circuit, a rectifier, and/or the like.

The battery gauge may measure a charge level, a voltage while charging,a temperature of the battery 696, and/or the like.

The battery 696 may supply power to the electronic device 600. Thebattery 696 may be a rechargeable battery, a solar battery, and/or thelike.

The indicator 697 may indicate one or more states (e.g., boot status,message status, charge status, and/or the like) of the electronic device600 or a portion thereof (e.g., the AP 610). The motor 698 may convertan electrical signal into a mechanical vibration.

Although not shown, the electronic device 600 may include one or moredevices for supporting mobile television (mobile TV) (e.g., a GraphicsProcessing Unit (GPU)), and/or the like. The devices for supportingmobile TV may support processing of media data compliant with, forexample, Digital Multimedia Broadcasting (DMB), Digital VideoBroadcasting (DVB), media flow, and/or the like.

It will be appreciated that various embodiments of the presentdisclosure according to the claims and description in the specificationcan be realized in the form of hardware, software or a combination ofhardware and software.

Any such software may be stored in a non-transitory computer readablestorage medium. The non-transitory computer readable storage mediumstores one or more programs (software modules), the one or more programscomprising instructions, which when executed by one or more processorsin an electronic device, cause the electronic device to perform a methodof the present disclosure.

Any such software may be stored in the form of volatile or non-volatilestorage such as, for example, a storage device like a Read Only Memory(ROM), whether erasable or rewritable or not, or in the form of memorysuch as, for example, Random Access Memory (RAM), memory chips, deviceor integrated circuits or on an optically or magnetically readablemedium such as, for example, a Compact Disk (CD), Digital Versatile Disc(DVD), magnetic disk or magnetic tape or the like. It will beappreciated that the storage devices and storage media are variousembodiments of non-transitory machine-readable storage that are suitablefor storing a program or programs comprising instructions that, whenexecuted, implement various embodiments of the present disclosure.Accordingly, various embodiments provide a program comprising code forimplementing apparatus or a method as claimed in any one of the claimsof this specification and a non-transitory machine-readable storagestoring such a program.

While the disclosure has been shown and described with reference tovarious embodiments thereof, it will be understood by those skilled inthe art that various changes in form and details may be made thereinwithout departing from the spirit and scope of the disclosure as definedby the appended claims and their equivalents. Various embodiments of thepresent disclosure are described as examples only and are noted intendedto limit the scope of the present disclosure. Accordingly, the scope ofthe present disclosure should be understood as to include any and allmodifications that may be made without departing from the technicalspirit of the present disclosure. Those skilled in the art willappreciate that the features described above can be combined in variousways to form multiple variations of the invention.

What is claimed is:
 1. A method of performing a payment transaction, themethod comprising: transmitting context data to a magnetic securetransmission (MST) configuration server, the context data beingassociated with the payment transaction; receiving an MST configurationfrom the MST configuration server; and executing the payment transactionbased on the MST configuration.
 2. The method of claim 1, wherein thecontext data includes one or more of electronic device information,merchant information, POS device information, payment methodinformation, payment network information, networking data information,electronic device location information, or a combination thereof.
 3. Themethod of claim 1, further comprising: receiving an indication that thepayment transaction was successful; and transmitting a message based onthe indication that the payment transaction was successful to the MSTconfiguration server.
 4. The method of claim 3, further comprising:transmitting second context data to the MST configuration server, thesecond context data being associated with a second payment transaction;receiving a second MST configuration from the MST configuration server;and executing the second payment transaction based on the second MSTconfiguration, wherein the second MST configuration is based on the MSTconfiguration and the indication that the payment transaction wassuccessful.
 5. The method of claim 1, further comprising: initiating thepayment transaction at an electronic device, wherein the context data istransmitted after the payment transaction is initiated at the electronicdevice.
 6. The method of claim 1, wherein the executing of the paymenttransaction comprises: generating a signal based on the MSTconfiguration, the signal including payment information; andtransmitting the signal to a point of sales (POS) device.
 7. Anelectronic device, comprising: a display; a transceiver configured totransmit and receive signals; a memory, wherein one or more programs arestored in the memory; and one or more processors configured to executeinstructions of the one or more programs, the one or more programsincluding instructions for: transmitting context data to a magneticsecure transmission (MST) configuration server, the context data beingassociated with a payment transaction, receiving an MST configurationfrom the MST configuration server, and executing the payment transactionbased on the MST configuration.
 8. The electronic device of claim 7,wherein the context data includes one or more of electronic deviceinformation, merchant information, POS device information, paymentmethod information, payment network information, networking datainformation, electronic device location information, or a combinationthereof.
 9. The electronic device of claim 7, wherein the one or moreprocessors are further configured to execute instructions of the one ormore programs, the one or more programs further include instructionsfor: receiving an indication that the payment transaction wassuccessful, and transmitting a message based on the indication that thepayment transaction was successful to the MST configuration server. 10.The electronic device of claim 9, wherein the one or more processors arefurther configured to execute instructions of the one or more programs,the one or more programs further include instructions for: transmittingsecond context data to the MST configuration server, the second contextdata being associated with a second payment transaction, receiving asecond MST configuration from the MST configuration server, andexecuting the second payment transaction based on the second MSTconfiguration, wherein the second MST configuration is based on the MSTconfiguration and the indication that the payment transaction wassuccessful.
 11. The electronic device of claim 7, wherein the one ormore processors are further configured to execute instructions of theone or more programs, the one or more programs further includeinstructions for: receiving an input at the electronic device indicativeof initiating the payment transaction, wherein the context data istransmitted to the MST configuration server after the paymenttransaction is initiated at the electronic device, and wherein thepayment transaction is initiated by a payment transaction applicationstored at the electronic device.
 12. The electronic device of claim 7,wherein the one or more processors are further configured to executeinstructions of the one or more programs, the one or more programsfurther include instructions for: generating a signal based on the MSTconfiguration, the signal including payment information, andtransmitting the signal to a point of sales (POS) device.
 13. Theelectronic device of claim 7, further comprising: a global positioningsystem (GPS) sensor, wherein the one or more processors are furtherconfigured to execute instructions of the one or more programs, the oneor more programs further include instructions for: determining alocation coordinate of the electronic device based on a signal receivedfrom the GPS sensor, and wherein the context data includes the locationcoordinate of the electronic device.
 14. A method of providing amagnetic secure transmission (MST) configuration for a purchasetransaction, the method comprising: receiving, at a MST configurationserver, context data associated with the purchase transaction;determining, at the MST configuration server, an MST configuration basedon the context data; and transmitting, from the MST configurationserver, the MST configuration to an electronic device, wherein the MSTconfiguration is used to execute the purchase transaction.
 15. Themethod of claim 14, wherein the context data includes one or more ofelectronic device information, merchant information, POS deviceinformation, payment method information, payment network information,networking data information, electronic device location information, ora combination thereof.
 16. The method of claim 14, further comprising:receiving an indicator that the payment transaction was successful. 17.The method of claim 16, further comprising: updating informationassociated with the MST configuration based on the indicator that thepayment transaction was successful.
 18. The method of claim 14, whereina plurality of MST configurations is determined based on the contextdata, and wherein the plurality of MST configurations is transmitted tothe electronic device.
 19. The method of claim 14, wherein the MSTconfiguration includes one or more MST configuration elements based onthe context information.
 20. The method of claim 14, wherein thedetermining of the MST configuration comprises: generating the MSTconfiguration based on the received context data, or retrieve apreviously generated MST configuration based on the received contextdata.